EUR/USD – Daily Time Frame AnalysisEUR/USD – Daily Time Frame Analysis
The Euro is gaining strength against the US Dollar, driven by recent positive economic data from the Eurozone and increasing speculation that the European Central Bank may delay further rate cuts. Meanwhile, the US Dollar is under slight pressure due to softer U.S. inflation expectations and a more cautious tone from the Federal Reserve, contributing to short-term bullish momentum in EUR/USD.
On the technical side, EUR/USD on the daily time frame has broken a major resistance level at 1.2200. We observed a previously formed double top and a descending trendline with three touches, confirming the significance of this key level. Following the breakout, accumulation has begun and buyers have stepped in with long positions. Price briefly retraced, triggering stop-losses below the liquidity zone — a typical liquidity grab.
Currently, we are waiting for price to break above a minor key resistance. Our area of interest is at 1.13300. Risk is managed below the liquidity zone at 1.10070, and our target profit is set at the next minor key resistance around 1.23530.
📌 Disclaimer:
This is not financial advice. As always, wait for proper confirmation before executing trades. Manage your risk wisely and trade what you see, not what you feel.
